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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$24.93

$854 M

0.16%

$0.04

0.89%

Vitals

YTD Return

10.9%

1 yr return

39.5%

3 Yr Avg Return

9.0%

5 Yr Avg Return

14.7%

Net Assets

$854 M

Holdings in Top 10

43.2%

52 WEEK LOW AND HIGH

$24.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.89%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 22.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000

IRA

$2,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$24.93

$854 M

0.16%

$0.04

0.89%

DEOPX - Profile

Distributions

  • YTD Total Return 10.9%
  • 3 Yr Annualized Total Return 9.0%
  • 5 Yr Annualized Total Return 14.7%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio -0.20%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Davenport Equity Opportunities Fund
  • Fund Family Name
    Davenport
  • Inception Date
    Dec 31, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    George Smith

Fund Description

Under normal circumstances, at least 80% of the Equity Opportunities Fund’s net assets (including the amount of any borrowings for investment purposes, although the Fund does not currently intend to borrow for investment purposes) will be invested in common stocks and shares of exchange traded funds (“ETFs”) that invest primarily in common stocks. The Fund focuses on superior risk/return opportunities using a flexible, concentrated and opportunistic approach. The Fund is classified as non-diversified and may therefore invest a greater percentage of its assets in the securities of fewer issuers than a fund that is diversified. At times, the Fund may overweight a position in a particular issuer or emphasize investment in a limited number of issuers or one or more particular business sectors.

Davenport & Company LLC (the “Advisor”) uses a “bottom-up” stock selection approach that focuses primarily on individual companies in the context of broader market factors. The Advisor attempts to control risk through diversification among major market sectors, but may overweight a position or a sector if it has a strong conviction about its potential for capital appreciation. The Fund will invest primarily in common stocks of companies that, in the Advisor’s opinion, show superior potential for capital appreciation, have strong and focused management and solid balance sheets. In making its determinations, the Advisor will focus on companies that exhibit one or more of the following characteristics:

Evidence of Financial Strength – The company has a consistent generation of free cash flow, a strong balance sheet, a high return on invested capital and the ability to grow revenues.
Pricing Flexibility – The company has the ability to adjust its prices independent of competitive forces.
Competitive Advantage – The company has a leading presence and a business that is difficult to replicate, or benefits from barriers to entry that limit or prevent new competition.
Disciplined Management – The company has an experienced and sound management team that is focused on building value.
Attractive Valuation – The company is selling at a low price relative to its assets, earnings, cash flow, franchise value or growth potential. This may be determined by its price-earnings ratio, price-book ratio, price-sales ratio or price-free cash flow ratio.

The Fund will emphasize investments in common stocks of medium and small capitalization companies but is not limited to any particular market capitalization. The Advisor defines medium capitalization companies as those whose market capitalization, at the time of purchase, is between $2 billion and $20 billion and defines small capitalization companies as those whose market capitalization, at the time of purchase, is between $300 million and $7 billion.

The Fund may also invest in special situation companies that have fallen out of favor with the market but are believed to offer favorable risk-adjusted returns. Special situations may include significant changes in a company’s allocation of its existing capital (companies undergoing turnarounds, spin-offs, mergers or acquisitions) or a restructuring of assets. Special situations may also result from significant changes to an industry through regulatory developments or shifts in competition, new or improved products, changes in senior management or significant changes in cost structure.

The Fund may invest in shares of ETFs to increase the Fund’s exposure to the broad market or to industry sectors without purchasing a large number of individual securities. Such ETFs will typically hold a portfolio of securities designed to track the performance of a particular index or market sector. ETFs differ from traditional mutual funds in that their shares are listed on a securities exchange and can be traded intraday. The Fund may invest up to 20% of its net assets in ETFs.

The Fund may invest up to 30% of its net assets in common stocks of foreign issuers when, in the Advisor’s opinion, such investments would be advantageous to the Fund and help it achieve its investment objective. The Fund may invest in ETFs that invest primarily in common stocks of foreign companies, including regional and/or country specific ETFs.

A security will be sold when the Advisor believes it no longer has the potential for strong growth, when it meets its targeted price, when the fundamentals of the issuer’s business or general market conditions have changed, when more attractive opportunities become available, or when strong performance has resulted in an outsized position.

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DEOPX - Performance

Return Ranking - Trailing

Period DEOPX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.9% -8.3% 24.0% 13.97%
1 Yr 39.5% -2.6% 55.1% 1.64%
3 Yr 9.0%* -20.2% 17.4% 10.48%
5 Yr 14.7%* -0.1% 21.0% 1.86%
10 Yr 11.3%* 2.2% 13.4% 5.12%

* Annualized

Return Ranking - Calendar

Period DEOPX Return Category Return Low Category Return High Rank in Category (%)
2023 21.3% -12.9% 28.8% 7.16%
2022 -29.5% -52.6% 20.1% 95.83%
2021 13.5% -43.8% 32.4% 39.94%
2020 8.3% -10.6% 82.1% 57.82%
2019 33.7% -8.5% 37.5% 0.63%

Total Return Ranking - Trailing

Period DEOPX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.9% -8.3% 24.0% 13.97%
1 Yr 39.5% -2.6% 55.1% 1.64%
3 Yr 9.0%* -20.2% 17.4% 10.48%
5 Yr 14.7%* -0.1% 21.0% 1.86%
10 Yr 11.3%* 2.2% 13.4% 5.12%

* Annualized

Total Return Ranking - Calendar

Period DEOPX Return Category Return Low Category Return High Rank in Category (%)
2023 27.7% 1.2% 31.3% 1.38%
2022 -23.1% -45.7% 21.1% 95.83%
2021 26.4% -30.2% 52.8% 29.75%
2020 21.4% -8.4% 84.3% 12.98%
2019 39.2% 1.0% 43.4% 2.81%

NAV & Total Return History


DEOPX - Holdings

Concentration Analysis

DEOPX Category Low Category High DEOPX % Rank
Net Assets 854 M 728 K 139 B 39.46%
Number of Holdings 31 1 2609 91.62%
Net Assets in Top 10 345 M 155 K 11.7 B 18.65%
Weighting of Top 10 43.16% 0.5% 126.5% 15.45%

Top 10 Holdings

  1. Brookfield Corporation 5.20%
  2. Live Nation Entertainment, Inc. 4.99%
  3. Martin Marietta Materials, Inc. 4.65%
  4. Xylem, Inc. 4.62%
  5. First American Treasury Obligations Fund Class X 4.44%
  6. Enovis Corporation 4.27%
  7. Fairfax Financial Holdings Ltd. (Canada) 3.85%
  8. DraftKings Inc. 3.82%
  9. Markel Corporation 3.76%
  10. MOBILEYE GLOBAL INC-A 3.56%

Asset Allocation

Weighting Return Low Return High DEOPX % Rank
Stocks
95.48% 0.00% 104.46% 85.95%
Cash
4.52% 0.00% 99.15% 15.95%
Preferred Stocks
0.00% 0.00% 14.30% 16.49%
Other
0.00% -1.04% 25.16% 34.32%
Convertible Bonds
0.00% 0.00% 1.78% 15.68%
Bonds
0.00% 0.00% 98.67% 20.00%

Stock Sector Breakdown

Weighting Return Low Return High DEOPX % Rank
Financial Services
24.10% 0.00% 46.10% 4.61%
Consumer Cyclical
18.60% 2.49% 46.48% 8.13%
Industrials
16.32% 0.00% 45.89% 53.12%
Communication Services
12.11% 0.00% 30.98% 3.25%
Technology
9.98% 0.00% 40.65% 89.70%
Basic Materials
7.57% 0.00% 16.35% 12.20%
Real Estate
6.38% 0.00% 25.82% 62.60%
Energy
2.91% 0.00% 58.13% 77.24%
Healthcare
2.02% 0.00% 24.06% 96.48%
Utilities
0.00% 0.00% 18.97% 84.28%
Consumer Defense
0.00% 0.00% 32.18% 96.21%

Stock Geographic Breakdown

Weighting Return Low Return High DEOPX % Rank
US
95.48% 0.00% 104.46% 80.81%
Non US
0.00% 0.00% 19.95% 29.19%

DEOPX - Expenses

Operational Fees

DEOPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.89% 0.03% 35.91% 59.40%
Management Fee 0.75% 0.00% 1.50% 64.40%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.30% 67.70%

Sales Fees

DEOPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

DEOPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

DEOPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 22.00% 0.00% 304.00% 22.96%

DEOPX - Distributions

Dividend Yield Analysis

DEOPX Category Low Category High DEOPX % Rank
Dividend Yield 0.16% 0.00% 29.52% 22.16%

Dividend Distribution Analysis

DEOPX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Annual Annual

Net Income Ratio Analysis

DEOPX Category Low Category High DEOPX % Rank
Net Income Ratio -0.20% -2.06% 3.38% 81.79%

Capital Gain Distribution Analysis

DEOPX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Annually Annually

Distributions History

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DEOPX - Fund Manager Analysis

Managers

George Smith


Start Date

Tenure

Tenure Rank

Dec 31, 2010

11.42

11.4%

George L. Smith, III, CFA (age 41) joined Davenport & Company in 1997 and currently serves as a Senior Vice President, Director and coordinator of the buy-side research for the firm. Mr. Smith is a member of the firm’s Executive Committee and has been a member of the IPC since July 2010. .

Christopher Pearson


Start Date

Tenure

Tenure Rank

Aug 01, 2013

8.84

8.8%

Christopher G. Pearson, CFA joined Davenport & Company LLC in 2006 and is First Vice President and a buy-side analyst for the firm. Mr. Pearson is a member of the firm’s Portfolio Review Committee. Mr. Pearson earned his BA in Business Administration from University of Richmond.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 38.44 7.25 5.78